FDIC Announces Collaboration with Operation HOPE, Inc. to Expand Financial Education and Minority/Women-Owned Business Opportunities

F.P. Report

WASHINGTON: The Federal Deposit Insurance Corporation (FDIC) today announced a collaboration with Operation HOPE, Inc., to promote financial education using the FDIC’s Money Smart curriculum and other resources and to help educate minority- and/or women-owned businesses on how to do business with the agency.  The arrangement expands upon a longstanding relationship between the FDIC and Operation HOPE to promote economic inclusion and increase consumer access to affordable credit. 

In 2001, recognizing the importance of financial education, particularly for persons with little or no banking experience, the FDIC created Money Smart, a financial education curriculum adopted by an alliance of more than 1,400 financial institutions and community-based partners across the United States.  Operation HOPE is a non-profit organization with a mission to promote financial empowerment and economic inclusion.  As outlined in its Diversity, Equity, and Inclusion Strategic Plan, the FDIC regularly cooperates with community groups across the nation, like Operation HOPE, to support financial inclusion.

“We are excited about FDIC’s collaboration with Operation HOPE as we share a common purpose to help every person belong to our nation’s financial system,” said FDIC Chairman Jelena McWilliams. “Working together, it is our goal to make certain our nation’s economy works for everyone.”

“FDIC’s bold commitment to financial education and empowerment closely aligns with our work at Operation HOPE,” said John Hope Bryant, Founder, Chairman and CEO of Operation HOPE. “Through initiatives like Money Smart, we are honored to help increase the ability for more Americans to take control of their finances and build a brighter future.”

The collaboration announced today outlines a number of activities that the FDIC and Operation HOPE will engage in to promote financial education using the Money Smart curriculum and to share technical assistance and other resources to educate minority- and/or women-owned businesses on how to effectively compete for opportunities related to FDIC contracts, asset purchases, and investments.